What was the accounts payable balance at the end of the year (in $ million)? b. What
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Question:
What was the accounts payable balance at the end of the year (in $ million)?
b.
What was the amount of short-term debt at the end of the year (in $ million)?
c.
What was the amount of equity at the end of the year?
Given Data
Cash: $25 million
Inventory: $38 million
Total assets: $280 million
Fraction of sales on credit: 100%
Average collection period: 53 days
Payables period: 43 days
Current ratio: 1.2
(Total) asset turnover: 2
Inventory turnover: 9
Total debt ratio (total liabilities/assets): 0.6
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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